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Record this movement in a journal entry

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Question - You transferred surplus cash out of the bank account to an investment account. You realised that you don't need all your capital sitting in the low interest working bank account so have transferred $50,000 into a higher interest-bearing account. Record this movement in a journal entry. This account will pay you 2.5% interest per annum, credited monthly on the 6th of each month into your account.

Reference no: EM132544218

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